Investment Research Associates - Page 212

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                                                       Schnitzer-PMS                                            
         Year     Hyatt   Schaffel   Frey     Essex Bargain      Gain        Interest  Total                    
         1977     $38,394       --        --        --          --         --           --           $38,394    
         1978      42,517       --        --        --       $372,500      --           --           415,017    
         1979     119,719  $100,000      --        --          --     $124,725         --           344,444     
         1980        --      244,920   $127,372     --          --      175,836      $321,957   870,085         
         1981      90,070    361,525    105,764     --          --      257,190       225,3881,039,937                  
         1982     172,702    447,450    538,781   $86,212       --      143,385       189,2511,577,781                  
         1983     172,090    30,981    110,125    78,375       --155,204       175,037   721,812                    
         1984     186,092       --      103,500   133,238       --167,998       159,650   750,478                    
         1985     206,790       --      128,763   120,175       --      181,846       142,996780,570                    
         1986     231,263       --        --       80,465       --196,836       124,968   633,532                    
         1987     229,449       --        --      120,698       --213,044       105,475   668,666                    
         1988     197,348       --        --      117,562       --230,625        84,332   629,867                    
         1989      52,777       --        --       51,727       --674,563        17,582   796,649                    

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